Visa plans to lay off about 2,600 people, accounting for approximately 7% of the total workforce

According to a report by Bloomberg, Visa is cutting about 2,600 jobs, which accounts for approximately 7% of its total workforce.

The company's CEO Ryan McInerney stated in a memo to employees that this move aims to enhance operational efficiency in response to the increasingly competitive payments industry. The layoffs are expected to primarily affect the technology and product teams.